The leaves are falling, dog coins are all the rage, and the Amp community keeps on growing! Read on to learn about the latest Amp community grant program proposal, new Amp token listings, and exciting developments in the global payments space.  

For new community members, check out previous issues on Substack and subscribe to stay up to date. For additional, more frequent updates, make sure to join the Amp community on Discord and Twitter.

In case you missed it…

London Real’s Brian Rose interviews Flexa CEO Tyler Spalding

In this fun and wide-ranging interview, Brian learns about the virtuous cycles built into Flexa and Amp from Flexa CEO Tyler Spalding. Tyler also discusses his thoughts on situations in which merchants might not need multiple confirmations (versus when they are critical), scaling Layer 1 networks, algorithmic stablecoins, and what he learned at NASA and MIT.

Amp token replacement program

Flexa has launched a one-time replacement program via Amp Governance for users who mistakenly sent Amp to the token contract (rendering it permanently inaccessible). More details can be found in the #governance channel on the Flexa Discord server. Flexa is using a transparent address for the process.

Amp Community Grant Program proposal

After funding of the Amp Community Grant Program was successfully passed, there is now a proposal for how to structure the approval process for issuing grants. Community feedback is requested regarding how to make the grant program successful in growing the community and increasing general understanding of Amp, collateral managers, Flexa and Flexa Capacity, and digital payments.  

Amp added to Bittrex and Infinity Wallet

Amp is now available on Bittrex—with BTC-AMP, ETH-AMP, USD-AMP, and USDT-AMP pairs—as well as Infinity Wallet upon winning a community poll.

Metrics update

Current TVL of Flexa Capacity — $1.33 billion

Earn rewards for staking your Amp on the Flexa network toward the apps below:

Stake Gemini

Stake SPEDN

Did you know?

• The Amp Community Forum is now open for suggestions, ideas, and proposals. If you have any trouble posting, please contact an admin in Discord.

• Flexa is hiring! Openings have recently been posted for a Backend Engineer and Senior Accountant, with many more to come.

DeFi and payments news

FDIC developing bank guidance on crypto and stablecoins

At the recent Money 20/20 conference in Las Vegas, FDIC chair Jelena McWilliams highlighted the importance of providing clear guidelines for the financial system to integrate digital assets and to encourage innovation while mitigating risks. McWilliams also discussed stablecoins and their role within the financial ecosystem. 

Mastercard partners with Bakkt to offer digital asset solutions

In a vote of confidence that digital assets will continue to play a larger role in the future of payments, Mastercard announced a partnership with Bakkt to facilitate bitcoin and other digital asset payments for its merchant and banking clients. While merchants accepting these payments would undoubtedly be subjected to similar fees as they currently pay for traditional payment types, this partnership should help raise the visibility of digital payments to merchants and consumers alike.

Justice Department probes Visa’s relationships with fintech firms​

The Justice Department is investigating financial incentives that Visa provided Square, Paypal, and Stripe to dissuade them from working with competing networks, according to people familiar with the matter. Visa stock is down roughly 10% since the announcement.

Tweet of the week

Edward Snowden @Snowden

VC guys keep trying to make cryptocurrency a global standard by spending billions to invent less-attractive versions of Bitcoin, instead of just buying payment-system companies to make the most common cash registers and apps support crypto payments by default. Pro-gamer move.

October 23rd 2021

3,577 Retweets25,617 Likes

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